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Write a 1 page paper about Millennials and their donating habits. How much do they give compared to others. Attachments are websites and related documents in PDF. Please use them as reference, MLA format.
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STUDY A Deep Dive into Donor Behaviors and Attitudes Authors: Rich Dietz, Director of Fundraising Strategy Brandy Keller, Senior Manager Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Overview: Why Care? Donors matter. They support the missions, causes, and people who help make our world a better place. In 2014, individual donors gave nearly $260 billion (that’s more than Ireland’s Gross Domestic Product!) to charity, and accounted for nearly three-quarters of all dollars donated, according to Giving USA. So, certainly, donors matter. Last year, our experts at Abila took a decidedly different approach to understanding donor engagement with the Donor Engagement Study, in which we looked at the whole subject of donor engagement through a different lens. We compared how donors actually engage with organizations to how nonprofit professionals think donors engage with their organizations to showcase both alignments and gaps. Not surprisingly, there were disconnects that existed between donors and the organizations they support – mainly around communication frequency, content, how donors feel most engaged, and how many data points are optimal to engage donors (in other words, how important is customized, personalized engagement). For this current study, we decided to dig even deeper into donor behavior, to go beyond just engagement, and see what drives donor loyalty, what types of content donors really like to consume, what actions by an organization annoy donors, what role events and volunteering play, and how donors really feel when it comes to an organization spending money on overhead. We also explore topics generationally to understand the attitudes and values across different age groups (Millennials, Generation Xers, Boomers, and Matures). In particular, we look more closely at Millennials and their emergence as a donor force. Furthermore, we have a special section that explores more deeply the behaviors and preferences of high-wealth donors (those who earn more than $200,000 annually). So, why care about this study? We believe this study, in conjunction with last year’s Donor Engagement Study, provides a much deeper picture into how donors behave and why, what content resonates with donors, and how nonprofit organizations can adjust their strategies, accordingly, to better nurture donors by giving them what they want, when they want it, and how they want it. We explored questions with a representative sample of 1,136 donors in the United States across all age segments who made at least one donation to a nonprofit organization in the past 12 months. The surveys were conducted by Finn Partners between February 3 and February 16, 2016. HERE’S WHAT WE LEARNED 2 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Key Findings • It’s all about “me.” The three main reasons people donate to nonprofit organizations are very personal in nature – they have a deep passion for the cause, they believe the organization depends on their donation, or they know someone affected by the nonprofit’s mission. • Donors spread the wealth. Nearly 80 percent of all survey respondents report donating to multiple organizations per year. More than 60 percent of high-wealth donors support at least four organizations. • Volunteering and events are “gateway drugs.” Nearly 75 percent of those who volunteered say they are more likely to donate. This is especially true for Millennials (52 percent), who are most likely to donate after volunteering. • Content is NOT just king … it’s money. Nearly 75 percent of respondents say they might stop donating to an organization based on poor content, including vague content, dull content, irrelevant content, and inconvenient formatting. • Quality, length, and frequency matter. Most donors prefer short, self-contained content. More than half of all donors want at least monthly communication (except Millennials, who want to receive content at least twice monthly). • Personalization matters. Approximately 71 percent of donors feel more engaged with a nonprofit when they receive content that’s personalized. Personalization done wrong – with misspelled names, irrelevant information, or ageinappropriate material, for example – rubs donors the wrong way. • Donors trust nonprofits to spend money wisely. By and large, donors trust the nonprofits they support to spend their money wisely (93 percent), and are pretty evenly divided in giving to both restricted and unrestricted funds. 3 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Generational Overview It’s nearly impossible to look at any sort of donor engagement/loyalty study without considering behaviors across generations, especially with the ongoing emergence of Millennials, both in the workforce and society. According to Pew Research, Millennials now comprise the largest generation in the workforce (more than one in three workers in the U.S. is a Millennial). AND, they make up the largest percentage of the population, according to the U.S. Census Bureau, surpassing Gen Xers and Boomers. While much has been discussed about Millennials (some would say ad nauseam), what can’t be denied is the fact they’re moving into their prime earning and spending years, and their behaviors and attitudes will reshape the economy, reshape how companies do business, and reshape how organizations attract and engage them. However, Gen Xers, Boomers, and Matures still play a key role for nonprofits. As you might guess, as donors age they tend to give more money. And, they also tend to support more organizations. Understanding generations and how they like to engage is essential for any organization, as is acknowledging that an emerging generation will change the rules of engagement down the road and planning now for that sea change. The chart below shines a spotlight on areas where the generations converge and diverge. Additionally, we dig deeper into the generational divide throughout the different sections of the study. GENERATIONAL BREAKDOWN Average # of nonprofits supported MILLENNIALS 1981-1997 3.7 Median donation (annually) $238 Be motivated by passion for a cause Be motivated that org relies on donations Preferred donation method 39% 63% ONLINE 31%­- Check GEN Xers 1965-1980 3.4 $465 41% 62% ONLINE Prefer short emails or letters Preferred frequency of communication 2x per month or more Monthly or more 38%­- Check BOOMERS 1946-1964 4.1 $478 51% 52% $ Dollars CHECK Quarterly or more 41%­- Online MATURES 1945 or earlier 65% $ 5.5 $683 65% Dollars CHECK 31%­- Online Quarterly or less 4 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Special Section: High-Wealth Donors No matter how you slice it, money is a key driver for most organizations to stay relevant (and in business) – whether for-profit or nonprofit. That’s the reality of the world in which we live. High-wealth donors ($200,000+ in annual household income) with disposable income are an essential part of any nonprofit organization’s mix. Approaching wealthy donors in the right way can pay dividends. Missteps with high-wealth donors can cause irreparable damage. To that end, we’ve dedicated a special section of this study solely to high-wealth donors and how their behaviors and attitudes differ from general donors. Here are some key findings: Generational breakdown of high-weath donors 10% Millennials 55% Boomers Preferred causes Preferred giving channels of 45% Places Worship 67% Donating goods and services 26% Gen Xers 10% 16% More likely to volunteer 45% Health 43% Social Services 56% Sending check in the mail 61% give to 4+ organizations (average 5.7) 51% Median donation 80% $2,252 More likely to serve in a volunteer leadership role Matures Number of organizations supported 4+ Leadership role and volunteering Children’s 35% Charities Animal 41% Welfare Giving online Annually 27% Sponsoring a friend 31% Education 21% Giving money to commemorate an occasion Restricted vs. unrestricted funds 38% Group least likely to designate funds for a specific purpose 5 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Section 1: Donor Behaviors In this section, we explore more in-depth three areas related to donor behavior. Specifically, what causes donors prefer, how donors prefer to engage (in other words, what drives donor loyalty), and what role events and volunteering play in the life of a donor. What causes do donors prefer? Figure 1 shows the type of causes donors like to support, with Social Service organizations, Health/Disease charities, and Children/Youth Development leading the charge. MOST POPULAR CAUSES Social Service Organizations Health or Disease Charities Children and Youth Development Places of Worship Animal Welfare or Shelters Figure 1: Preferred causes Figure 2 shows preferred causes by generation. Younger donors (Millennials and Gen Xers) tend to support Children and Youth Development organizations, while older donors (Boomers and Matures) lean heavily toward Places of Worship. MOST POPULAR CAUSES: GENERATIONAL BREAKDOWN MILLENNIALS 36% 34% 33% GEN Xers 39% BOOMERS 42% 38% MATURES 48% 41% 39% 43% 39% 31% Figure 2: Top three organization types supported by generation 6 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Data Insight: Millennials and the Religion Shift While it’s difficult to draw exact conclusions from the data in Figure 2 (Top three organization types supported by generation), it’s certainly worth noting where correlations exist. Recently, Pew Research released a study on Millennials and religion, showing that “Millennials are much less likely than older Americans to pray or attend church regularly or to consider religion an important part of their lives.” The donor habits of Millennials, and to some degree Gen Xers, support this notion, as more secular-focused, family/children-focused organizations replace faith-based religious institutions as recipients of donations from these generations. Michael Hout, a professor of sociology at New York University, characterized the shift away from religion in this way: Most age differences at any given time are the legacy of the times people grew up in. Many Millennials have parents who are Baby Boomers, and Boomers expressed to their children that it’s important to think for themselves – that they find their own moral compass. Also, they rejected the idea that a good kid is an obedient kid. That’s at odds with organizations, like churches, that have a long tradition of official teaching and obedience. And, more than any other group, Millennials have been and are still being formed in this cultural context. As a result, they are more likely to have a “do-it-yourself” attitude toward religion. Based on Giving USA’s data, religious organizations account for the bulk of individual giving (hitting a peak of $114 billion in 2014). What does this mean for nonprofit organizations? Considering giving remains a pretty constant 2 percent of GDP, Gen Xers and Millennials will continue to grow in spending power and will flex their financial muscle – and, it likely won’t be to religious organizations. The question remains: If and how will these two generations redistribute nearly $100 billion in giving revenue as they grow in financial influence and stature? 7 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes How do donors like to engage? Consistent with earlier findings in our Donor Engagement Study, donors like to engage with nonprofit organizations in three different ways: Giving (money, donating goods and services, buying products, etc.); Doing (volunteering, attending events, serving in a leadership role, etc.); Communicating (spreading the word, advocacy, following on social media, staying informed). Giving Giving is very personal. Figure 3 looks at the three main reasons donors give to an organization in order of importance. The top three drivers are very much about the individual experience of the donor, rather than a grander purpose or vision. MAIN REASONS FOR DONATING I am passionate about the cause TOP REASONS FOR DONATING 59% I know that the organization I care about depends on me 45% I know someone affected by their cause 33% Moved to donate in response to an event in the news 18% To memorialize someone 16% Someone I know directly asked me to donate 16% Awareness through ads/communication 13% As a gift to a friend or loved one (birthday, retirement, etc.) 8% Saw a post on social media 8% Other 3% Figure 3: Reasons for donating (respondents were able to select all that apply) Now that we have a clearer sense of what compels a donor to give, Figure 4 looks specifically at what donors prefer to give. Money given online or via check and goods/services rate the highest. INVOLVEMENT WITH NONPROFIT (PAST 12 MONTHS) CATEGORIES RELATED TO GIVING Donated goods and services, like clothing 56% Donated money directly through a check in the mail 44% Donated money directly through the website 40% Bought products that support them 27% Gave to a charity though their monthly giving program Sponsored a friend or family member raising money for a nonprofit organization Fundraised for the charity/group Gave money for an occasion such a birthday or in tribute to an individual 18% 17% 16% 13% Figure 4: Categories related to Giving (respondents were able to select all that apply) 8 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Doing While giving is certainly the most important activity for a donor, doing plays an essential role, as well. Doing opportunities give donors a much more hands-on experience with an organization and can help drive loyalty. Forty-seven percent of donors do something with an organization: volunteer, attend events, or play a leadership role. Figure 5 looks specifically at how donors prefer to interact with a nonprofit organization. Bottom line, people like to volunteer. More than one-third of donors have volunteered time in the last 12 months. INVOLVEMENT WITH NONPROFIT (PAST 12 MONTHS) CATEGORIES RELATED TO DOING 36% 21% 11% Volunteered your time Attended or participated in fundraising events, such as a party, run, walk, bike, music event, etc. Served in a volunteer leadership role, like a committee or board Figure 5: Categories related to Doing (respondents were able to select all that apply) Volunteering – and events, in particular – factor into the donor loyalty equation. While we live in an increasingly digitally connected world, in-person events and the ability to get involved through volunteerism correlate closely with increased giving and engagement. Figures 6 and 7 show how events and volunteering affect donation decisions. AFTER ATTENDING AN EVENT 74% 73% 18% 56% AFTER VOLUNTEERING 28% 23% 45% 24% 1% Much more/somewhat more likely to donate Did not affect my likelihood Much less/somewhat less likely to donate Figure 6: Effect attending an event has on decision to financially support the nonprofit (among those who attended an event) Much more/somewhat more likely to donate Did not affect my likelihood Much less/somewhat less likely to donate Figure 7: Effect volunteering has on decision to financially support the nonprofit (among those who had volunteered) 9 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Figure 8 shows the breakdown of types of donors who generally volunteer and attend events. MOST LIKELY TO VOLUNTEER MOST LIKELY TO ATTEND EVENT 47% Gave $1,000+ to organizations in the last year Give to Health/Disease orgs 32% $200K+ 31% Donations to 4+ organizations 30% $100K+ 28% 47% Give to Social Service orgs 43% $200K+ 42% Donations to 4+ organizations 40% College-educated 27% Gave $1,000+ to organizations in the last year Figure 8: How events and volunteerism play into giving and engagement Primarily, donors are looking for events to make a difference with the cause they support and educate them about how the organization operates. Figure 9 shows, in rank order, what matters most and least to donors, respectively, when it comes to events. FEELING ENGAGED AT EVENTS % VERY IMPORTANT / SOMEWHAT IMPORTANT Make a difference with the cause I support 64% Teach me more about how the organization operates 44% Feature personal stories of those affected by the organization 34% Not only serve a good cause, but be interesting and teach me something 33% Give me the opportunity to meet and interact with those impacted by the organization 29% 41% 85% 42% 76% 46% 30% 79% 39% 69% Not only serve a good cause, but be fun 27% Give me the opportunity to socialize with other volunteers and donors 26% Give me the opportunity to interact with employees from the nonprofit 24% 39% 63% Keep me involved beforehand by sending me texts, emails, reminders, and interesting content related to the event 24% 39% 63% Keep me involved afterwards by sending me pictures, statements on the event’s impact, or other news 24% 40% 38% 39% 93% 67% 64% 63% Figure 9: What matters most and least to donors when thinking about events 10 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes For volunteer opportunities, donors are looking for something that has a positive impact on other people’s lives, and events that are well organized. Figure 10 shows a rank order of what matters most and least to donors when it comes to volunteer opportunities. FEELING ENGAGED WHILE VOLUNTEERING % VERY IMPORTANT / SOMEWHAT IMPORTANT Make an impact on others’ lives 68% Be well-organized 26% 56% Teach me more about the impact the organization is making 44% Make clear how the task that I am doing while volunteering matters 43% Be personally rewarding 41% Give me the opportunity to meet and interact with those impacted by the organization 32% Not only serve a good cause, but be interesting and teach me something 31% Not only serve a good cause, but be fun 28% Give me the opportunity to socialize with other volunteers and donors 27% Help develop and sharpen my own skills 24% Give me the opportunity to interact with employees from the nonprofit 22% 94% 35% 91% 43% 87% 40% 83% 39% 80% 43% 75% 48% 79% 42% 70% 39% 35% 42% 66% 59% 64% Figure 10: What matters most to donors when thinking about volunteer opportunities 11 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Communicating Communication is a two-way interaction; meaning, donors can actively listen to communication from a nonprofit, and they also might spread the word on an organization’s behalf. Communicating can also play a vital role in both giving and doing. Figure 11 looks at how donors actively engage with communication. Note that involvement on social media is fairly low, consistent with our findings in last year’s Donor Engagement Study. INVOLVEMENT WITH NONPROFIT (PAST 12 MONTHS) CATEGORIES RELATED TO COMMUNICATING 29% 25% 16% 13% 10% Spread the word or told others about the charity/group Stayed informed through emails and/or newsletters Followed on social media Shared/retweeted/ pinned info Participated in advocacy actions on behalf of the organization Figure 11: Categories related to Communicating (respondents were able to select all that apply) 12 Donor Loyalty Study | A Deep Dive into Donor Behaviors and Attitudes Section 2: Content Content is not just king, it’s money. While 28 percent of respondents say poor content would have no effect on whether they continue to donate or not, 72 percent of respondents say it would. Figure 12 highlights the transgressions that would cause a donor to stop donating ...
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